Guideline Value for SRI DHARMASASTHA NAGAR

Sri Dharmasastha Nagar guideline value

The current guideline value of Sri Dharmasastha Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of Sri Dharmasastha Nagar has changed

Over the years, the guideline value of Sri Dharmasastha Nagar has seen significant changes. The 2007 revision set the guideline value at Rs 250 per sq.ft. This figure remained until the 2012 revision, which also recorded Rs 2,300 per sq.ft. The 2023 revision maintained the same value of Rs 2,300 per sq.ft, before the current 2024 revision increased it to Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

Notably, the jump from Rs 250 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024 represents an overall increase of 900%. The register does not provide figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Korattur

In Korattur, the guideline values vary across 617 streets under the Villivakkam SRO, with rates ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, which is the same as the current value for Sri Dharmasastha Nagar.

• Sri Devi Nagar (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Sri Ganesh Nagar (Kallikuppam): Rs 2,100 per sq.ft (2024)
• Sri Devi Karumariamman Nagar (Near To T.V.S.Nagar): Rs 3,300 per sq.ft (2024)
• SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 1st STREET: Rs 3,300 per sq.ft (2024)
• SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 2nd STREET: Rs 3,300 per sq.ft (2024)
• SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 3rd STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Dharmasastha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total charges Rs 2,25,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Sri Dharmasastha Nagar?

The Sri Dharmasastha Nagar area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Korattur

The guideline value plays a crucial role in property transactions in Korattur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable. This ensures that the transaction is recorded accurately and fairly according to the established rates.

Both buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction. It is essential to refer to the latest figures to understand the financial implications of property dealings in the area.

Frequently asked questions

What is the current guideline value of Sri Dharmasastha Nagar?

The current guideline value of Sri Dharmasastha Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, showing an overall increase of 900% over the years.

What is the land classification of Sri Dharmasastha Nagar?

Sri Dharmasastha Nagar is classified as Residential Class II Type - III.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated in Sri Dharmasastha Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value results in total charges of Rs 2,25,000.